Chatelaine or Watch Fob?

This was with some of my Grandmother's jewelry and I am just trying to identify what it is. I've looked at many pictures online and haven't come across the same one. My guess is it is from the 1960's. I read online that sometimes the items hanging off a chatelaine or watch fob are actually useful. I was hoping these items were and not just decorative! I just found it interesting and am hoping someone can identify it. Thank you!